SpaceX lands record $75bn raise as Wall Street braces for mega debut June 12, 2026 Elon Musk’s SpaceX is set to begin trading on Friday after pulling off the largest IPO in history, with investor demand reportedly topping $250bn (£186bn) and early trading indications pointing to a big first-day jump. The aerospace and AI giant raised $75bn at a fixed price of $135 per share, giving the company a valuation [...]
UK economy falters as deeper damage to growth to come June 12, 2026 The UK economy lost momentum in April, official data has revealed, as the energy price shock from the Iran war took its toll on businesses and consumers. The Office for National Statistics said GDP declined by 0.1 per cent in April. The services sector contracted by 0.2 per cent while manufacturing output did not post [...]
Paddy Power owner Flutter quits London Stock Exchange in blow to City June 12, 2026 The owner of Paddy Power has said it will ditch its listing on the London Stock Exchange, in another major blow to the UK market. Flutter, which owns gambling brands including Paddy Power and Betfair, shifted its primary listing to New York in 2024 and on Friday announced plans to ditch its secondary listing in [...]
KPMG report on AI found riddled with AI hallucinations June 12, 2026 A new probe into Big Four KPMG’s report on agentic AI found that the majority of its references were flawed, amid the latest news of AI-hallucinated reports published by professional services firms. The investigation, conducted by GPTZero, focused on KPMG’s October 2025 report, ‘Total Experience: Redefining Excellence in the Age of Agentic AI’, which summarises [...]
Do the Prem Rugby semi-finals need a Welsh URC team? June 12, 2026 Ahead of this weekend’s Prem Rugby’s semi-finals, Ollie Phillips assesses whether they could do with a hint of Wales. Picture the scene: next year’s Prem Rugby semi-finals feature the top three teams from this year – Northampton Saints, Bath Rugby and Exeter Chiefs – plus one of the Scarlets, Ospreys, Dragons or Cardiff. This would, [...]
As it happened: FTSE 100 rises as easing Iran tensions offset GDP blow; SpaceX set for blast off June 12, 2026 Welcome back to the City AM liveblog. Global equity investors are bracing for Musk’s record-breaking market debut SpaceX is set to begin trading on Nasdaq today after Elon Musk’s rocket, satellite and AI empire pulled off the largest IPO in market history. The company raised $75bn after pricing shares at $135, giving it a $1.77 [...]
London Tech Week day four: Tech still cares about diversity June 11, 2026 Who gets to help shape the future? In London's tech sector, we know diversity is still our greatest strength, writes Russ Shaw from day four of London Tech Week.
As it happened: Starmer dealt defence blow as investors react June 11, 2026 This was the City AM liveblog on Thursday 11 June. John Healey resigned as defence secretary over a lack of funding for the armed forces, heaping pressure on Sir Keir Starmer. Industry officials reacted with regret and paid tribute to Healey. The FTSE 100 also climbed on Thursday to defy fresh tensions between Iran and [...]
Oil prices rise as Trump warns of ‘very hard’ strikes against Iran June 11, 2026 President Trump has escalated his threats against the Iranian regime, announcing on social media that the US will hit Iran “very hard” tonight if a peace deal cannot be reached. In a post on his Truth Social platform, the US President suggested that American forces could take Kharg Island, a crucial oil export artery for [...]
World Cup: Third of fan visas from non-European countries are being rejected June 11, 2026 A third of World Cup fan visas from non-European countries are being rejected with Iran and Senegal hit the hardest, research has found. The United States, which is hosting 78 of the World Cup’s 104 matches, has refused 74 per cent of visas from Senegalese applicants and 61 per cent of Iranian submissions. These are [...]